$PERY (Perry Ellis International Inc.)

$PERY, which competes with $NKE, said it expects 2Q17 revenue to approximate $195-198MM. Gross margins are expected to expand to 36% for 2Q17 and SG&A is expected to increase approx. 1% over last year. Full year 2017 revenue is expected to be in a range of $910-915MM. Gross margin is expected to expand further to 36.2-36.3% in full year 2017.

Apparel company $PERY said it elected David Scheiner as
Non-Executive Chairman of the BoD. He will be succeeding George Feldenkreis, whose
position as Executive Chairman has been terminated. Scheiner, who currently
serves as consultant to retail and wholesale companies, joined Perry Ellis
BoD in 2014.

$PERY entered into a license agreement with Roma Industries LLC for small leather goods and accessories, under the Savane trademark in the USA and Canada. The collection will be available in specialty stores and online with a planned launch in Spring 2018.

$PERY has entered into a license agreement with Roma Industries
LLC for cigar accessories under the Cubavera trademark in the USA and Canada. The
collection will be available on Cubavera.com, online retailers, tobacconists,
as well as men's gift and specialty stores with a planned launch in Spring
2018.

$PERY has
entered into an agreement with Comercial ECCSA SA/Ripley in Chile for men's,
women's, boy's and girl's apparel, accessories and footwear under the Gotcha
brand. The sports fashion collections are currently available in the Tiendas
Por Departamento Ripley Chile stores Chile.

Apparel company $PERY has signed an agreement with eyewear maker i-deal Optics Holding, granting rights to design and distribute ophthalmic eyewear, sunglasses and readers under the Rafaella brand in the US, Canada and Mexico. The new product line will be distributed in optical retail stores with a product launch scheduled for the spring of 2018.

$PERY said its ecommerce business is strong. Third-party ecommerce
was up plus 10% in 1Q18 and in golf alone, ecommerce was plus 15%. $PERY will
be adding videography to increase product knowledge and it is also improving social
and digital marketing. $PERY believes DTC online has the potential to be a
$100MM business over the next 3-5 years.

Cash and investments at 1Q18 end for $PERY totaled $43MM with $148MM of long-term debt. Net debt to total capitalization stood at 24.3% at quarter end. Perry Ellis reiterated its guidance for FY18, including $870-880MM in revenues and adjusted EPS of $2.07-2.17.

Planned cuts in shipments saw $PERY's total revenue slide 7.3% to $242MM in 1Q18, as the apparel maker posted a dip in net income of $12.8MM from last year's $14.3MM. Earnings fell to $0.83 per diluted share from $0.95 a share, with unanticipated costs pushing SG&A expenses up 2% to $71.2MM. Gross margin rose 120 basis pts to 37.6% in the quarter.

$PERY stated that
regarding year-end inventory for FY18, the company's discipline on inventory
management will be driven and focused throughout this year. The company added
that its inventory should be even at $150MM to $160MM range at year end.

Revenue in $PERY's women's
sportswear segment totaled $108MM in 4Q17 compared to $127MM a year ago. Solid
shipment growth within the department store channel was offset by reduction in
special markets, driven by a higher level of available goods in the marketplace.
Direct to consumer revenue also declined $5MM to $92MM for the quarter.

$PERY's revenue in the
men's sportswear and swim segment totaled $625MM compared to $641MM a year ago.
However, the company noted increases in its Perry Ellis golf-lifestyle apparel
and Nike Swim businesses. This growth was offset by business exit and the
negative impact of foreign currency translation.

$PERY said the company is
pleased with North America results and the initial early reads in the company's
new markets of Latin America and Europe. Internationally, $PERY saw good
expansion and is expecting more growth to come. At the end of 2016, about 13%
of the company's business was represented outside of the US.

For FY18, $PERY is taking a conservative view on revenue, as retail store closures across the industry remains a consistent theme and expects revenue in the range of $870-880MM, while adjusted earnings per share is expected in the range of $2.07-2.17.

Despite a revenue fall, $PERY swung to profit in 4Q17. Net income was $9MM or $0.59 per share, compared to a net loss of $17.7MM, or $1.18 per share in 4Q16. On the other hand, revenue decreased 4.7% to $204MM, as store traffic dropped by 15%. Excluding items, net income was $0.66 per share.

$PERY entered into a license agreement with Optimo Group to design and distribute men's, women's and children's watches under the Perry Ellis® trademark in Greater China, Japan, Korea, India and throughout ASEAN. The collections will be distributed in department stores, jewelers and watch specialty stores, fashion boutiques and ecommerce sites.

$PERY entered into a license agreement with Morel S.A. to design and distribute men's and women's luggage, travel bags and back packs under the Perry Ellis® trademark in Central America, South America and the Caribbean. The collection will be distributed in department stores and upscale specialty stores with a product launch in Fall 2017.

$PERY entered into a license agreement with Euroneck to design and distribute men's neckties, bow ties, cummerbunds, pocket squares, ascots, winter and summer scarves and hosiery under the Perry Ellis and John Henry trademarks in Mexico. The collection will be distributed in stores, and ecommerce with a product launch in Spring 2017.